Georgia company to hire 200-250 at new Roland operation
by June 24, 2010 1:24 pm 54 views
A Georgia company is expected to soon hire up to 250 for a new distribution center in Roland.
Citi Trends Inc., a value-priced retailer of urban fashion apparel and accessories, will open a 425,000-square-foot apparel distribution center in Roland, Okla, according to statement issued Thursday (June 24) by the Oklahoma Department of Commerce.
David Alexander, Citi Trends president and CEO, said the company will hire between 200 and 250 new employees as it ramps to full production over the next two years. The company had looked at a number of sites in Oklahoma, Arkansas and Texas before deciding to acquire the existing facility in Roland.
"The centralized location with easy access to large population markets, a high quality workforce and a great facility were the key factors in why we chose Oklahoma to continue building the Citi Trends brand," Alexander said in the statement. "We are eager to equip the building and begin distribution in Roland, and we look forward to being part of the Sequoyah County business community."
The company, based in Savannah, Ga., has 420 stores in 24 states, and employs more than 3,500.
The Roland facility will support distribution centers in Savannah and Darlington, S.C., according to the ODOC statement. Company officials have announced “aggressive store growth” that includes new markets in the midwest and western U.S.
“We are pursuing an aggressive store growth strategy and believe that the addition of new stores will be the primary source of future growth,” the company noted in its 10-K filing with the U.S. Securities and Exchange Commission. “In fiscal 2009 we opened 49 new stores, entering the California and western Michigan markets for the first time. We expect to open approximately 55 new stores in fiscal 2010. Approximately 90% of the new stores we intend to open in fiscal 2010 will be located in states that we currently serve.”
Jeff Roberts, Roland Economic Development Committee chairman, noted: "Community leaders expect the Company will be a great corporate partner and will help us to further enhance our local economy."
Citi Trends (NASDAQ: CTRN) posted first quarter 2010 net income of $12.449 million, up 57% over the 2009 period. Total sales for the quarter reached $181.4 million, up 28.6% over the 2009 period. The company’s net income in fiscal year 2009 was $19.717 million, up compared to the $17.383 million in fiscal year 2008.